While Spanish income tax rates and value-added tax (VAT) rates have climbed since 2012, Spain is one of only three countries in the 34-member OECD where the tax-to-GDP ratio is still below 2007 levels.
The tax burden in Spain in 2013 was 32.6 percent, up from 22.1 percent 12 months earlier.
However. it remained 3 percent lower than pre-crisis levels.
This will see the lowest income tax rate on people earning less than €12,450 ($16,900) a year come down from 24.75 percent in 2014 to 20 percent in 2015 and 19 percent in 2016.
The top rate for those earning €60,000 or more a year would be cut from 52 percent in 2014 to 47 percent in 2015 and 45 percent in 2016.
The population would enjoy an average income tax cut of 8.06 percent next year compared to 2014, government figures showed.
The corporate tax rate, meanwhile, would be trimmed from 30 percent to 28 percent next year and 25 percent in 2016.
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